Not directly, but there are some other options

There is no method to change the colours in the console at large, but a severity value can be added next to items in list views, which shows the severity as a numeric value.  An example can be seen below:

Workaround

This is currently not available in the latest Active Console version. However, this customized workspace has it configured: NewDefaultWS1.awx

This mode can be viewed by clicking the Mode button and selecting Severity as Number. See below:

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